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AD Ports Group Issues 2022 Integrated Annual Report

AD Ports Group Issues 2022 Integrated Annual Report

March 28, 2023

Report outlines an exceptional year for the Group, characterised by record revenue, net profit and earnings per share

Abu Dhabi, UAE – 28 March 2023: AD Ports Group (ADX: ADPORTS) today released its 2022 Integrated Annual Report with the Abu Dhabi Securities Exchange (ADX).

After a successful year that included a heavily oversubscribed listing on the ADX, AD Ports Group further expanded its global footprint and service offering, in addition to launching new trade routes aiming to enhance global trade connectivity. Furthermore, the Group reported strong operational and record financial performance, with revenue growth of 41% year-on-year to AED 5.5 billion.

As part of its ambitious growth strategy, the Group inked seven M&A transactions in 2022 totalling AED 5.9 billion.

AD Ports Group’s vertically integrated business model, including Economic Cities & Free Zones, Ports, Maritime, Logistics and Digital Clusters has enabled the Group to contribute 13% of UAE’s non-oil GDP and 24% of Abu Dhabi’s non-oil GDP in 2022, according to Oxford Economics. The Group has also empowered over 373,000 jobs in the UAE.

Commenting on the report, H.E. Falah Al Ahbabi, Chairman of AD Ports Group, said: “AD Ports Group has solidified its position as a leading international trade facilitator and a fully integrated provider of global trade logistics and transport solutions, thanks to its remarkable year of strategic, geographic, and financial growth. The Group's unwavering determination, foresight, and commitment have led to outstanding financial and operational results that have bolstered the confidence of new shareholders in our performance.” 

H.E. Al Ahbabi continues, “Looking ahead, the Group is now in an exceptionally robust position and well-equipped to expand globally, with plans to achieve remarkable growth across its businesses. In line with the socio-economic objectives set by the UAE's visionary leaders, the Group is committed to maximising its contributions to national economic development, job creation, and its place on the international stage as well as to maximising value creation for its shareholders.”

Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “The year 2022 marked a significant turning point for AD Ports Group as we delivered exceptional financial results and strengthened our position as a leading integrated supply chain solutions provider and gateway to Abu Dhabi and the region's thriving economies. This outstanding performance during a time of unprecedented global uncertainty is a testament to the UAE's wise and visionary leadership.”

Al Shamisi added: “Moving forward into 2023, we plan to leverage the momentum of our accomplishments in 2022 to deliver continued value to our shareholders. Our strategic focus will be on expanding our global reach and enhancing our operations in vital shipping, logistics, and ports sectors. With cutting-edge infrastructure and advanced fleets, we are well-positioned for dynamic growth, both regionally and internationally. Our goal is to further enhance our services portfolio and deliver exceptional customer experiences worldwide.”

AD Ports Group annual report details some of the major achievements, as well as acquisitions and agreements signed in 2022, that have extended AD Ports Group’s global reach. 

After one year listed on ADX, AD Ports Group’s shares yielded over 80% returns for its shareholders and is among the top three performing stocks in the region over the same 12-month period. The Group has also made impressive strides in expanding its global footprint, with notable acquisitions such as the 70% stake in Egypt's Transmar and TCI, the 80% stake in Global Feeder Shipping (GFS), and the 100% acquisition of Noatum.

Furthermore, AD Ports Group fortified its position as a dominant player in the global economic landscape by launching the KEZAD Group. Comprising 12 economic zones, spanning across a vast area of 550 square kilometres, KEZAD has transformed into one of the largest economic zones in the world.

Khalifa Port achieved a major feat in its ten-year expansion journey, extending its area from 2.43 square kilometres to 8.63 square kilometres and increasing its quay wall from 2.3 km to 12.5 km. As a result, Khalifa Port is now one of the world's most advanced deep-water ports.

AD Ports Group also expanded its global presence by signing contracts with the Red Sea Ports Authority for port projects in Egypt and partnered with SEG to establish logistics and freight businesses in Central Asia.

Key financial highlights of the year included a revenue growth of 41% year-on-year to AED 5.5 billion (+23% year-on-year to AED 4.8 billion organically), total Net Profit of AED 1.3 billion in 2022, +51% year-on-year, and earnings per share (EPS) of AED 0.25 for the full year in 2022, up from AED 0.22 in 2021.
AD Ports Group’s Integrated Annual Report, full-year 2022 financial statements and Corporate Governance Report are available here.